Indian markets faced a severe downturn today amid a global selloff, with the Nifty and Sensex both experiencing significant losses during early trading. The Sensex plummeted by 1,500 points to reach 78,580.46, while the Nifty dropped 489.65 points to 24,228.05.

Both the Nifty 50 and the S&P BSE Sensex ended their longest weekly winning streak in over 14 years on Friday, primarily due to a decline in information technology stocks. This was triggered by weaker-than-expected US economic data, which sparked a global market selloff.

On Friday, data released after market hours indicated that US job growth slowed more than anticipated in July. This unexpected slowdown has raised concerns about an economic downturn, which has had a ripple effect on global equities. As a result, Indian markets were not spared from the global bloodbath, reflecting investor anxiety over the potential for a broader economic slowdown.

Indian markets faced a severe downturn today amid a global selloff, with the Nifty and Sensex both experiencing significant losses during early trading. The Sensex plummeted by 1,500 points to reach 78,580.46, while the Nifty dropped 489.65 points to 24,228.05.

Both the Nifty 50 and the S&P BSE Sensex ended their longest weekly winning streak in over 14 years on Friday, primarily due to a decline in information technology stocks. This was triggered by weaker-than-expected US economic data, which sparked a global market selloff.

On Friday, data released after market hours indicated that US job growth slowed more than anticipated in July. This unexpected slowdown has raised concerns about an economic downturn, which has had a ripple effect on global equities. As a result, Indian markets were not spared from the global bloodbath, reflecting investor anxiety over the potential for a broader economic slowdown.